Tri-Continental Co. (NYSE:TY) Shares Sold by Landscape Capital Management L.L.C.

Landscape Capital Management L.L.C. trimmed its position in Tri-Continental Co. (NYSE:TY - Free Report) by 25.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,788 shares of the investment management company's stock after selling 21,293 shares during the period. Landscape Capital Management L.L.C. owned about 0.12% of Tri-Continental worth $2,021,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Level Four Advisory Services LLC purchased a new stake in Tri-Continental during the fourth quarter valued at about $259,000. JPMorgan Chase & Co. grew its holdings in shares of Tri-Continental by 37.1% during the 4th quarter. JPMorgan Chase & Co. now owns 18,048 shares of the investment management company's stock worth $572,000 after purchasing an additional 4,888 shares during the period. TIAA Trust National Association acquired a new stake in Tri-Continental during the 4th quarter worth approximately $377,000. CoreFirst Bank & Trust acquired a new stake in Tri-Continental during the 4th quarter worth approximately $35,000. Finally, 1620 Investment Advisors Inc. raised its holdings in Tri-Continental by 0.7% in the fourth quarter. 1620 Investment Advisors Inc. now owns 89,044 shares of the investment management company's stock valued at $2,822,000 after buying an additional 645 shares during the period. Institutional investors and hedge funds own 10.22% of the company's stock.

Insiders Place Their Bets

In other news, Director Pamela G. Carlton sold 1,815 shares of Tri-Continental stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $31.23, for a total transaction of $56,682.45. Following the sale, the director now directly owns 101 shares of the company's stock, valued at approximately $3,154.23. The trade was a 94.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.66% of the stock is owned by company insiders.

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Tri-Continental Trading Down 3.1 %

Shares of TY traded down $0.93 during midday trading on Thursday, reaching $28.46. 63,861 shares of the company were exchanged, compared to its average volume of 42,454. Tri-Continental Co. has a 1-year low of $26.54 and a 1-year high of $34.82. The stock has a 50-day moving average price of $31.23 and a 200-day moving average price of $32.34.

Tri-Continental Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 18th were issued a $0.2766 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date of this dividend was Tuesday, March 18th.

Tri-Continental Company Profile

Tri-Continental Corporation is a closed ended equity mutual fund launched and managed by Columbia Management Investment Advisers, LLC. It primarily invests in the public equity markets of the United States. The fund invests in stocks of companies that operate across diversified sectors. It seeks to invest in stocks of large-cap companies.